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Einhorn Insurer Enters Deal for Asia, Europe Growth After Slump (Bloomberg)
Greenlight Capital Re Ltd., the reinsurer that counts on hedge fund manager David Einhorn to oversee its investment portfolio, reached a deal to expand in Europe and Asia as the company seeks to improve underwriting. The reinsurer’s Irish subsidiary is partnering with Kattan Associates Ltd. to seek new business, Greenlight Re said Thursday in a statement that didn’t disclose terms. Greenlight Re has posted losses in five of the last six quarters, as Einhorn’s investments slumped and the company struggled to find profitable insurance contracts. The second-quarter net underwriting loss widened to $24.5 million from $13.3 million a year earlier.

Cramer: The Golden Price For You To Join Ackman And Buy Chipotle (CNBC)
Looking back in history, Jim Cramer says Bill Ackman is right about Chipotle. When Cramer compared the pattern of the three worst health scares in recent history — Jack in the Box in 1993, Taco Bell in 2006 and the KFC Chinese food contamination incident — he found that investors should buy the stock before the anniversary of the bad news to catch the bottom. “History is on Ackman’s side. Sometimes that is all that matters. I still believe that there will be a chance to get into this stock at a lower price, because the current quarter likely won’t be anything to write home about,” the “Mad Money” host said.

Ex-Guggenheim Hedge Fund Deimos Asset Management to Close (Bloomberg)Deimos Asset Management, the multistrategy hedge fund that was previously housed within Guggenheim Partners, is closing its doors less than two years after its inception, citing a difficult fundraising environment. “Despite our many successes — including minimal drawdowns and our profitability on a performance basis for the year — we have decided to cease the investment management side of the business,” Loren Katzovitz, managing partner at Deimos, said in a statement. The fund began in early 2015 with an anchor investment from Ontario Teachers’ Pension Plan through a managed account platform and a strategic investment from Ares Management LP.